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Understanding the difference between needs and wants is key from "summary" of Your Money Or Your Life by Joseph R. Dominguez,Vicki Robin
Understanding the distinction between needs and wants is crucial. When we grasp the difference between what we truly need and what we merely desire, we are better equipped to make informed decisions about our spending habits. Needs are essential for our survival and well-being, such as food, shelter, and clothing. Wants, on the other hand, are things that we may desire but do not necessarily require to live a fulfilling life. By recognizing our needs versus our wants, we can prioritize our spending in a way that aligns with our values and goals. This awareness allows us to focus our resources on the things that truly matter to u...
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